21121 SW 85th Ave Apt 311
Cutler Bay, FL 33189 · condos · For Sale · 26 days on market
Asking price$265,000
2 beds 2 baths 1,192 sqft
Suggested offer$260,000$5,000 above the est. market value of $260,000.
View on Realtor.com →Listed by Yvette Joseph · Charles Rutenberg Realty Fort
Typecondos
Built1975
Price / sqft$222
Est. value (own analysis)$260,000
Rent estimate (own analysis)$2,150/mo
HOA$501/mo
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Statusfor_sale
Listed date2026-08-07
Removed date—
MLSMiamiMLS #A12067488
Coordinates25.57170, -80.32581
Address21121 SW 85th Ave Apt 311
CityCutler Bay
StateFL
Zip33189
Listing ID5367416642
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33189)
Typical home value (ZHVI)$554,285
Typical rent (ZORI)$2,715/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.
Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $265,000 |
| Down payment (20.0%) | $53,000 |
| Loan amount | $212,000 |
| Closing costs (5.0%) | $13,250 |
| Total cash to close | $66,250 |
| Income | |
| Rent (comp-derived) | $2,150$25,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,978$23,736 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $420$5,035 |
| Insurance (placeholder 0.8% of price) | $177$2,120 |
| HOA dues | $501$6,012 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $108$1,290 |
| Total operating expenses | $1,205$14,457 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $108$1,290 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 2 | 2 | 827 | $1,759 | 2026-07-07 | — | |
| condos | 2 | 2 | 1,113 | $2,300 | 2026-07-13 | — | |
| apartment | 2 | 2 | 980 | $2,100 | 2026-06-17 | — | |
| condos | 2 | 2 | 1,113 | $2,150 | 2026-07-21 | — | |
| condos | 2 | 2 | 980 | $1,800 | 2026-07-02 | — | |
| apartment | 2 | 2 | 1,061 | $2,200 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,113 | $2,000 | 2026-03-11 | — | |
| condos | 2 | 2 | 980 | $2,300 | 2026-08-26 | — | |
| condos | 2 | 2 | 1,082 | $2,400 | 2026-08-24 | — | |
| condos | 2 | 2 | 980 | $2,000 | 2026-07-20 | — | |
| condos | 2 | 2 | 980 | $1,850 | 2026-06-02 | — | |
| condos | 2 | 2 | 1,060 | $2,200 | 2026-06-26 | — | |
| condos | 2 | 2 | 1,113 | $2,150 | 2026-08-14 | — | |
| condos | 2 | 2 | 1,113 | $2,250 | 2026-06-11 | — | |
| condos | 2 | 2 | 1,192 | $2,350 | 2026-06-28 | — | |
| condos | 2 | 2 | 980 | $2,200 | 2025-09-04 | — | |
| condos | 2 | 2 | 1,130 | $1,950 | 2025-12-18 | — | |
| apartment | 2 | 2 | 980 | $1,850 | 2026-03-17 | — | |
| condos | 2 | 2 | 1,113 | $2,300 | — | — |
Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 8640 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $235,000 | 2026-08-11 |
| 21121 SW 85th Ave Apt 216 | condos | 2 | 2 | 1,192 | $260,000 | 2026-08-03 |
| 21130 SW 87th Ave Apt 203 | condos | 2 | 2 | 991 | $240,000 | 2026-07-08 |
| 8590 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $248,000 | 2026-06-22 |
| 8540 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $220,000 | 2026-05-20 |
| 8560 SW 212th St Apt 305 | condos | 2 | 2 | 1,113 | $222,000 | 2026-05-15 |
| 8660 SW 212th St Apt 101 | condos | 2 | 2 | 1,123 | $260,000 | 2026-02-13 |
| 21133 SW 85th Ave Apt 108 | condos | 2 | 2 | 1,160 | $265,000 | 2025-10-06 |
| 8620 SW 212th St Apt 301 | condos | 2 | 2 | 1,113 | $240,000 | 2025-09-30 |
Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 8670 SW 212th St Apt 105 | condos | 2 | 2 | 1,113 | $265,000 | — |
| 8500 SW 212th St Apt 309 | condos | 2 | 2 | 1,113 | $240,000 | — |
| 8240 SW 210th St Apt 319 | condos | 2 | 2 | 980 | $240,000 | — |
| 20930 SW 83rd Ave | townhomes | 2 | 3 | 1,381 | $377,900 | — |
| 8260 SW 210th St Apt 210 | condos | 2 | 2 | 980 | $230,000 | — |
| 21130 SW 87th Ave Apt 304 | condos | 2 | 2 | 991 | $315,000 | — |
| 8670 SW 212th St Apt 108 | condos | 2 | 2 | 1,113 | $265,000 | — |
| 8670 SW 212th St Apt 307 | condos | 2 | 2 | 1,113 | $255,000 | — |
10-year hold projection
IRR1.9%
Equity multiple1.31x
Total return (10yr)$54,900
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $272,950 | $9,279 | -$8,359 | $209,701 | $63,249 |
| 2 | $281,139 | $9,630 | -$8,041 | $207,245 | $73,893 |
| 3 | $289,573 | $9,993 | -$7,711 | $204,620 | $84,953 |
| 4 | $298,260 | $10,368 | -$7,369 | $201,815 | $96,445 |
| 5 | $307,208 | $10,757 | -$7,015 | $198,817 | $108,391 |
| 6 | $316,424 | $11,160 | -$6,648 | $195,613 | $120,811 |
| 7 | $325,917 | $11,576 | -$6,268 | $192,189 | $133,728 |
| 8 | $335,694 | $12,007 | -$5,874 | $188,530 | $147,164 |
| 9 | $345,765 | $12,454 | -$5,467 | $184,620 | $161,145 |
| 10 | $356,138 | $12,915 | -$5,044 | $180,441 | $175,697 |
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.